President Bola Tinubu has cautioned that the cost of living in Nigeria will continue to rise as long as citizens insist on receiving essential services for free.
During a meeting on Friday in Beijing with the Nigerians in Diaspora Organization (NIDO China) and the Nigerian community at the China World Hotel, Tinubu addressed the necessity of recent economic reforms, including the inevitable fuel price hikes.
“Nigeria is undergoing significant reforms, and we are making bold and unprecedented decisions. For example, you might have heard recent news about fuel prices back home. But can we avoid it? Can we build quality roads like those you see here in China? Can we provide stable electricity, consistent water supply, and good schools without making sacrifices?” Tinubu remarked.
He continued, “If we cannot make tough decisions now, we will delay progress for future generations. The more we demand everything for free, the more expensive and prolonged it becomes to achieve meaningful development.”
Tinubu’s comments come amid growing public dissatisfaction over the rising cost of fuel. Earlier this week, the Nigerian National Petroleum Corporation (NNPC) raised the price of petrol from ₦680 to ₦855 per litre, sparking an increase in transportation costs across the country.
Since the removal of fuel subsidies by Tinubu’s administration on May 29, 2023, petrol prices have surged from ₦145 to nearly ₦1,000 per litre, intensifying economic challenges for many Nigerians.
